Nonprofit Alliance of Consumer Advocates Helps Another Foreclosed Distraught Homeowner Get Their Home Back Thru a Trustee Sale Reversal From 3rd Party Highest Bidder
Foreclosed Homeowner gets Trustee Sale Reversal thru the help of Nonprofit Alliance of Consumer Advocates after 3rd party highest bidder buys their home at Bank Foreclosure Auction:
SAN DIEGO, Feb. 20, 2020 /PRNewswire-PRWeb/ -- Mr Geoffrey & Kathleen Scheuerman of San Diego California were devastated when they learned their lender since 2006, foreclosed on them on 10/28/2019 at 10:30 a.m. on a loan that they only owed $466,065.00 on. Their home was valued at close to $800,000.00 but it was more than just the dollars and cents, it was their home of over 14 years.
Yes they've had challenges due to past hardships like most of American homeowners but have always managed to work something out without having their home actually get foreclosed on. Let alone get sold at the lenders auction to a bonafide 3rd party highest bidder.
The Scheuerman's $800,000.00 home sold at auction to the highest bidder for $670,100.00. It appeared they would have been better off to sell their home for Market Value than get foreclosed upon and now have to deal with eviction by the new owner of their home.
Not more than one hour after the auction took place, they were getting bombarded by phone solicitations from attorneys and foreclosure consultants offering their "help" to the family.
The only help these prior homeowners were being offered from attorneys as well as unlicensed and unregulated Foreclosure Consultants (that posed as "working with" a lawyer actually not with any actual State Bar Licensed attorney) was to retrieve leftover foreclosure funds known as "Surplus Funds". Surplus funds are a portion of residual equity that are held by the lenders attorney known as the Trustee that conduct the auction sale. These funds are often either turned over to the courts then possibly forfeited to the State or the past Homeowner. This occurs only after all and/or any funds are released to outstanding lienholders, unpaid creditors and payoff any existing judgments the homeowner(s) may appear to have. This legal process can take anywhere from four months up to four years. Whatever is left over from the Surplus may then be sent to the ex-homeowner, if and when they are located. Keep in mind, depending on which State the property is located, the Sheriffs eviction process can occur in as little as 21-30 days after the trustee auction date. Unless you are properly legally represented.
However, none of the bombardment of calls the foreclosed homeowners received had any mention or interest in helping the Scheuerman's make any attempt at retaining their property. They all stated it was impossible since it was sold to what is considered a bonafide innocent 3rd party purchaser conducted by the lenders Trustee.
Fortunately for the Scheuerman's, they contacted the Nonprofit Alliance of Consumer Advocates who told them that Trustee Sale Reversals are definitely not easy. They were informed they are very complex. They were told Trustee Sale Reversals are very time sensitive, they are rare and they are not at all close to being 100% successful. They were told Trustee Sale Reversals were even not probable but not at all impossible. What they were told by the Nonprofit Alliance of Consumer Advocates was "it's like finding a needle in the hay stack or winning the Lotto". However, winning the Lotto without buying a ticket is like finding the needle without ever looking in the haystack.
The Scheuerman's were given a thorough explanation of what would need to transpire for a Trustee Sale Reversal to ever get started, let alone be successful. Starting with an immediate Wrongful Foreclosure Lawsuit filed by an experienced State Bar Licensed Attorney that specializes in this type of specific legal practice. Not just a general practitioner or a lawyer that works in immigration. Followed by various other time sensitive legal motions as well as effective and experienced legal representation against the inevitable Unlawful Detainer known as "eviction", occurs.
Typically these two legal services are very costly when conducted by experienced state bar licensed law firms. This is probably why most foreclosed homeowners fail to even attempt a Trustee Sale Reversal. The Nonprofit Alliance of Consumer Advocates has special arrangements with experienced Law Firms throughout the United States that make exceptions for clients referred to them by the Nonprofit Legal Clinic. In this case it was the Consumer Defense Law Group PC, owned and operated by Managing Attorney Anthony Cara, who has an A+ BBB rating and has been very successful in the past with Trustee Sale Reversals.
Anthony Cara filed a Lawsuit Case # 37-2019-00060156 in State Court on behalf of the Scheuerman's on 11/13/2019, only 12 court days after the auction sale of the Scheuerman's home. The State Case was then taken to Federal Court Case # 19-CV-02396-WQH.
Today the Schuerman's are happy to report their home is now back in their name and fully intend on continuing to reside in their beautiful San Diego home.
What's the Moral to this story? The moral to this story is that Trustee Sale Reversals are not at all impossible, no matter what anyone tells you. What's only impossible is when you don't have any faith and/or hope and you don't have the right people in your corner.
The Scheuerman's like almost all of the Nonprofit Alliance of Consumer Advocates clients have never paid one dollar to the Nonprofit Legal Clinic. Attorney Anthony Cara's Consumer Defense Law Group executed the Wrongful Foreclosure Lawsuit prosecution and the Unlawful Detainer representation without the Scheuerman's paying any out of pocket money for those services. If you or anyone you know are in danger or have been foreclosed upon, contact the Nonprofit Alliance of Consumer Advocates for a free consultation go to http://www.NACAlaw.org 1(800) NACA-HELP.
SOURCE NonProfit Alliance of Consumer Advocates
Share this article